Marathon Petroleum Corporation (NYSE:MPC) Shares Sold by First Merchants Corp

First Merchants Corp lessened its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 51.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,030 shares of the oil and gas company's stock after selling 2,120 shares during the quarter. First Merchants Corp's holdings in Marathon Petroleum were worth $296,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. SWS Partners lifted its position in shares of Marathon Petroleum by 19.0% during the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company's stock worth $2,452,000 after purchasing an additional 2,806 shares in the last quarter. Greatmark Investment Partners Inc. increased its stake in shares of Marathon Petroleum by 3.5% during the fourth quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company's stock worth $22,483,000 after buying an additional 5,476 shares during the period. TCTC Holdings LLC increased its stake in shares of Marathon Petroleum by 3.3% during the fourth quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company's stock worth $12,730,000 after buying an additional 2,892 shares during the period. Cambridge Financial Group Inc. purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth approximately $5,624,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth approximately $1,192,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $167.69 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16. The firm has a market cap of $51.52 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 3.30 and a beta of 0.89. The company's 50 day simple moving average is $155.91 and its 200-day simple moving average is $147.39. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. The business had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The company's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the firm posted $2.58 earnings per share. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.17%. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

Wall Street Analyst Weigh In

MPC has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of Marathon Petroleum from $180.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Piper Sandler cut their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Scotiabank cut their target price on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Mizuho increased their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $175.80.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.

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